This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

NEW YORK, NY – HFF announced today that it has arranged $100 million in long-term financing for a 510-unit, high-rise residential property in Manhattan’s Murray Hill neighborhood.

HFF worked on behalf of the borrower to secure the 20-year, fixed-rate loan through Prudential Mortgage Capital Company, the commercial real estate finance business of Prudential Financial, Inc. (NYSE: PRU).

The property is located on 39th Street between First and Second Avenues, in close proximity to several neighborhood amenities, public transportation, Grand Central Station and Midtown Manhattan. The 39-story building consists of studio, one- and two- bedroom units. Community amenities include a doorman, parking garage, laundry facilities and bicycle storage.

“The transaction provided the borrower an opportunity to take advantage of the low interest rate environment and provided lenders an opportunity to offer funding for a high quality residential asset in one of the top neighborhoods in the city with best in class sponsorship,” commented Klein.